NorthCrest Asset Manangement LLC Has $1.91 Million Position in MasTec, Inc. $MTZ

Key Points

• NorthCrest Asset Management LLC has reduced its holdings in MasTec, Inc. by 18.3%, selling 2,491 shares and bringing its total ownership to 11,089 shares valued at approximately $1.9 million.
• MasTec reported earnings of $1.49 EPS for the last quarter, exceeding analysts' expectations, and the company’s revenue grew by 19.7% compared to the previous year.
• Recent analyst reports have set new price targets for MasTec, with JPMorgan raising their target to $214.00, emphasizing a strong bullish outlook for the stock.

NorthCrest Asset Manangement LLC cut its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 18.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,089 shares of the construction company's stock after selling 2,491 shares during the period. NorthCrest Asset Manangement LLC's holdings in MasTec were worth $1,906,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. LPL Financial LLC raised its stake in shares of MasTec by 535.1% in the 1st quarter. LPL Financial LLC now owns 130,314 shares of the construction company's stock valued at $15,209,000 after buying an additional 109,794 shares in the last quarter. KBC Group NV lifted its stake in MasTec by 10.6% during the first quarter. KBC Group NV now owns 2,773 shares of the construction company's stock worth $324,000 after purchasing an additional 266 shares during the period. Voya Investment Management LLC lifted its stake in MasTec by 33.1% during the first quarter. Voya Investment Management LLC now owns 46,446 shares of the construction company's stock worth $5,421,000 after purchasing an additional 11,551 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in MasTec by 37.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company's stock worth $1,915,000 after purchasing an additional 4,469 shares during the period. Finally, GAMMA Investing LLC lifted its stake in MasTec by 43.6% during the first quarter. GAMMA Investing LLC now owns 915 shares of the construction company's stock worth $107,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup decreased their price target on MasTec from $220.00 to $219.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. boosted their price target on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. DA Davidson set a $210.00 target price on shares of MasTec and gave the stock a "buy" rating in a report on Monday, August 4th. Wall Street Zen raised shares of MasTec from a "buy" rating to a "strong-buy" rating in a report on Sunday. Finally, Mizuho started coverage on shares of MasTec in a report on Thursday, September 4th. They issued an "outperform" rating and a $215.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating and seventeen have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $197.84.

Insider Activity

In other news, EVP Cardenas Alberto De sold 10,000 shares of MasTec stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total value of $1,806,900.00. Following the completion of the sale, the executive vice president directly owned 101,349 shares of the company's stock, valued at approximately $18,312,750.81. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $200.44, for a total value of $2,004,400.00. Following the completion of the sale, the chief operating officer directly owned 184,249 shares of the company's stock, valued at $36,930,869.56. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,000 shares of company stock valued at $6,132,470. Company insiders own 21.30% of the company's stock.

MasTec Price Performance

NYSE MTZ traded up $6.22 on Monday, hitting $207.18. 857,226 shares of the company were exchanged, compared to its average volume of 903,325. The firm has a 50 day moving average of $182.49 and a two-hundred day moving average of $156.31. The company has a market cap of $16.35 billion, a P/E ratio of 61.30 and a beta of 1.81. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $207.58.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.08. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company earned $0.96 EPS. The firm's quarterly revenue was up 19.7% on a year-over-year basis. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. On average, equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.